Short Interest in Cellcom Israel Ltd. (NYSE:CEL) Rises By 23.3%

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Cellcom Israel Ltd. (NYSE:CEL) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 98,500 shares, an increase of 23.3% from the July 31st total of 79,900 shares. Based on an average trading volume of 17,000 shares, the short-interest ratio is currently 5.8 days. Approximately 0.2% of the shares of the company are short sold.

Shares of Cellcom Israel stock traded down $0.01 during trading on Friday, hitting $2.12. The stock had a trading volume of 5,525 shares, compared to its average volume of 13,132. Cellcom Israel has a 12 month low of $1.97 and a 12 month high of $7.23. The business’s 50-day moving average is $2.49 and its 200 day moving average is $3.47. The company has a current ratio of 1.43, a quick ratio of 1.40 and a debt-to-equity ratio of 2.19.

Cellcom Israel (NYSE:CEL) last posted its earnings results on Thursday, August 15th. The technology company reported ($0.08) earnings per share for the quarter. The firm had revenue of $258.00 million for the quarter. Cellcom Israel had a negative return on equity of 5.01% and a negative net margin of 2.25%.

Separately, ValuEngine downgraded Cellcom Israel from a “hold” rating to a “sell” rating in a research report on Friday, June 7th.

Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in shares of Cellcom Israel by 0.3% during the second quarter. Renaissance Technologies LLC now owns 3,751,877 shares of the technology company’s stock valued at $10,843,000 after purchasing an additional 12,600 shares in the last quarter. Delek Group Ltd. grew its position in Cellcom Israel by 120.6% in the 2nd quarter. Delek Group Ltd. now owns 2,161,999 shares of the technology company’s stock worth $6,090,000 after purchasing an additional 1,181,942 shares during the period. ARK Investment Management LLC grew its position in Cellcom Israel by 29.8% in the 2nd quarter. ARK Investment Management LLC now owns 110,305 shares of the technology company’s stock worth $319,000 after purchasing an additional 25,328 shares during the period. Finally, JPMorgan Chase & Co. bought a new stake in Cellcom Israel in the 2nd quarter worth approximately $34,000. Institutional investors own 7.53% of the company’s stock.

Cellcom Israel Company Profile

Cellcom Israel Ltd. provides cellular and landline telecommunications services in Israel. It operates through two segments, Cellular and Fixed-line. The company offers basic cellular telephony services, such as voice mail, cellular fax, call waiting, call forwarding, caller identification, conference calling, and inbound and outbound roaming services; and data transfer, and upload and download services.

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